US GDP up 0.55 per cent

Annualised growth 2.2 per cent.

The US Bureau of Economic Analysis has released its first estimates of GDP growth in quarter one, 2012. Real GDP increased at an annual rate of 2.2 per cent, equivalent to 0.55 per cent quarter on quarter. This is lower than the 2.5 per cent annualised (0.625 per cent quarterly) predicted, but significantly higher than the -0.2 per cent growth experienced by the UK over the same period.